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By Baker Tilly Staples Rodway Auckland Audit & Assurance Services senior manager Hari Saparamadu.
The integration of artificial intelligence in business significantly advanced in 2023, with generative AI emerging as a notable focus. According to a McKinsey Global Survey, a third of organisations are actively using generative AI in business functions. At least 40% of businesses plan to increase their investment in AI. AI can create novel and original content from text, images, audio and video from multiple inputs, and is reshaping how businesses approach data and content creation.
Generative AI is revolutionising business operations by enabling the creation of innovative and customised data-driven content. This technology, exemplified by tools like ChatGPT for engaging conversations and DeepComposer for music creation, is pivotal in today's rapidly evolving digital landscape. The expectation is that AI will streamlines tasks and boosts efficiency but also foster new growth and innovation opportunities.
In the first of a series of articles, we will begin with exploring how businesses are using AI, with a particular focus on the New Zealand market. Let’s get started!
Artificial intelligence is transforming the way businesses interact with their customers in New Zealand. It can provide faster, smarter and more personalised services that enhance customer satisfaction and loyalty. Here are some examples:
In New Zealand, the health sector is increasingly incorporating AI technologies to enhance patient care, streamline operations and improve overall healthcare outcomes. The following examples reflect the diverse and impactful ways AI is being integrated into healthcare, from enhancing diagnostic processes to improving patient care and streamlining hospital operations:
AI is not a one-size-fits-all solution. Different businesses have different needs, goals and challenges, and they use AI in different ways to address them.
Importantly, it is crucial to recognise that AI and technology are not intended to replace the workforce but rather to empower it. These tools serve as catalysts, enhancing creativity, efficiency, and productivity within the workplace. When utilised effectively, AI and technology act as invaluable assets, enabling both employees and businesses to excel and maintain a competitive edge.
Don’t miss our next AI article, where we’ll explore how it’s being used in international business…
DISCLAIMER No liability is assumed by Baker Tilly Staples Rodway for any losses suffered by any person relying directly or indirectly upon any article within this website. It is recommended that you consult your advisor before acting on this information.
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